Nexen to Expand European Tire Plant

Nexen Tire is expanding its production plant in the Czech Republic to produce over 12 million tires per year, the company has announced.

In December, the South Korean tire maker said it had provided financial support to its European subsidiary to facilitate the project at the Zatec, Czechia facility.

In an updated stock exchange filing 19 Jan, Nexen stated that it was supporting “the borrowing of €300 million for the expansion at Nexen Tire Europe sro.